Storage units are useful to temporarily
stow your belongings when you have limited space during or after a move. However, if you fail to make regular payments, your belongings could be seized by the facility and sold at auction. If you are considering renting a storage unit for your move, read on for more information on how units are declared abandoned and what happens to their contents.
How are storage units leased?
When renting a storage unit, the customer is expected to pay a monthly rate. Like apartment leases, when rent is late, there is usually a grace period of a few days to a week before late fees are added. If the customer wants to continue using the storage facility, she is expected to make her rent payments on time.
When are storage units considered abandoned?
Storage units are declared abandoned after a certain number of payments are missed consecutively. When signing a storage rental agreement, the lease should have a clause that specifies how many payments must be missed before the unit will be considered abandoned. Once one or two months go unpaid, the facility's property manager may call or send letters to the renter to remind him of his missed payment. However, once the permitted grace period ends, the facility can declare the unit abandoned and confiscate the contents.
What will happen to the unit's contents?
Once the unit is considered abandoned, the contents become the facility's property. Usually, an auction will be held, open to the public, to compensate for the unpaid rent. Depending on the laws in that area, the facility will usually place an ad in the local newspaper announcing the auction's date, time and location. Many people visit these auctions in hopes of finding valuable items and antiques. Popular reality shows, such as "Storage Wars," highlight these experiences. Sometimes the facility will auction the entire unit at once, and others they will auction one item at a time.
Who can buy the items?
Anyone can attend the auction and bid on the items--including the items' owner. The unit will be kept secured until the auction begins. Once the unit is opened, bidders can see the items, but are rarely permitted to go inside the unit.
Will the renter still owe the facility money?
If the auction doesn't raise enough money to compensate for the renter's outstanding debt, she may still receive a bill for the remaining amount. If payment is still not made, the bill may be sent to a collections agency.
What if the unit contains illegal items?
Many times, storage units are abandoned because they contain illegal items or goods that are not permitted in public storage. These include drugs, fireworks, explosives, flammable items, pet supplies, perishable food, and stolen goods. These items cannot be auctioned and may be confiscated by the police.
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Considering renting a storage unit for your move? You can begin comparing free storage quote today at Movers.com. Simply fill out the quick and easy quote form to receive rates from local storage facilities.
Photo by: Hankwang (Wikimedia Commons)